Gov’t of the day is responsible for the performance of the Cedi – Miracles Aboagye admits

Dennis Miracles Aboagye, a member of the NPP communications team, has spoken out. He admitted that the current government is responsible for the cedi's performance.

Aboagye acknowledged the Mahama-led administration's role in the cedi's recent appreciation against the US dollar. He shared his thoughts on social media platform X.

He wrote, “I agree with @SammyGyamfi and @AnnanPerry about crediting the NDC government for the cedi’s appreciation. I believe the government of today is responsible for how the cedi performs.”

In another development, Dr. Cassiel Ato Forson, Ghana's Finance Minister, commented on this issue. He stated that the recent appreciation of the cedi is not temporary.

Forson emphasized that this improvement will be sustained over time. He urged businesses to adjust their prices as the cedi strengthens.

He said, “We are seeing improvements in the cedi. It’s time for businesses to reflect this in their pricing.” Forson also called on GUTA to support these efforts.

The Ghana Union of Traders’ Associations (GUTA) praised the Bank of Ghana for restoring confidence in the cedi. In a statement signed by GUTA President Dr. Joseph Obeng, they expressed hope for businesses recovering lost capital.

They noted that improved predictability around foreign exchange could change perceptions about currency value in Ghana. GUTA urged authorities to maintain these positive measures.

If sustained, these gains could help achieve full economic recovery and reduce living costs. The Ghanaian cedi continues to show slight gains against major currencies like the US dollar.

As of May 8, 2025, it trades at GH¢13.4 per dollar.